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Cyprus (AP) The largest bank in financially struggling Cyprus has named former senior Royal Bank of Scotland official John Patrick Hourican as its new chief executive officer. Hourican's appointment Tuesday comes at a challenging period for the Bank
Cyprus Cyprus' largest bank had racked up after-tax losses of 2.2 billion euros ($3 billion) in 2012, three months before it was swept up in the country's painful financial rescue deal. Bank of Cyprus' financial results released Friday showed that
Cyprus (AP) Shareholders of Cyprus' largest bank have elected six Russians to sit on its new, 16-member board of directors. Tuesday's vote puts more foreign nationals on the board of the Bank of Cyprus than ever before. The significant Russian
The Cypriot government wants the restructuring of the bailed-out country's biggest bank to be completed by the end of this month. Government spokesman Christos Stylianides said Tuesday that once the restructuring is completed, management of the bank
Criminal investigators will help judges in Cyprus dig deeper into what caused a financial crisis that forced the island to ask for a bailout by international lenders, authorities said on Friday. An inquiry into Cyprus' financial practices led by
His comments came in a letter sent last week but leaked on Wednesday. Losses were imposed on big deposits in Bank of Cyprus (BoC) and Laiki Bank. BoC is now in trouble, the letter said. "I urge you to support a long-term solution to Bank of Cyprus'
A man use his mobile phone as stands outside of a branch of Laiki Bank in central capital Nicosia, Cyprus, Tuesday, May 21, 2013. Laiki bank, which took huge losses from Greece's debt restructuring, is being wound down and folded into Cyprus' largest
Cyprus's central bank defended its governor from "simplistic" government allegations on Monday, saying he had prevented the disorderly bankruptcy of the island's second-largest bank and thereby of the state itself, now in line for a bailout.
The euro crisis is starting to look like death by a thousand cuts. Just when you thought Cyprus was resolved by its European partners, a new crisis has broken out in Portugal where the country's most respected elder statesman Mario Soares has just
In 2006, Mr Vgenopoulos bought a percentage of the Laiki Bank in Cyprus, through the Marfin Investment Group (MIG). Since then, the bank has been used to grant loans to businesses and individuals so that they may increase their share capital in MIG.